Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for all long steel products for November 11-20. Accordingly, the company has kept its offer prices for 16-20 mm HRB400 rebar and 8-10 mm HRB400 debar-in-coil stable at RMB 3,450/mt ($486/mt) and RMB 3,560/mt ($501/mt), respectively. There are corresponding price increases for different specifications. All prices are on ex-works basis.
For the November 1-10 period, the producer had kept its offer prices for 16-20 mm HRB400 rebar and 8-10 mm HRB400 debar-in-coil stable, standing at RMB 3,450/mt ($486/mt) and RMB 3,560/mt ($501/mt), respectively.
As of November 10, the average rebar price in the Chinese market was standing at RMB 3,200/mt ($451/mt) ex-warehouse, decreasing by RMB 30/mt ($4.2/mt) or 0.9 percent from October 31, according to SteelOrbis’ data.
As of November 10, rebar futures at the Shanghai Futures Exchange were at RMB 3,044/mt ($429/mt), declining by RMB 62/mt ($8.7/mt) or 2.0 percent since October 31, while up 0.26 percent compared to the previous trading day, November 7.
Prices include 13 percent VAT.
$1 = RMB 7.0866